Key Takeaways
- • CalSTRS is launching a request for proposals (RFP) for a private equity consultant as its current contract with Meketa Investment Group expires after September 2026.
- • The new consulting contract will commence July 1, 2025, with a duration of either three or five years, to be determined by the Investment Committee.
- • The RFP process is part of CalSTRS's broader effort to expand its options and refresh its private equity advisory relationships following the upcoming contract expiration.
- • CalSTRS, managing $154.2 billion in assets, will utilize the consultant to work with staff and the Investment Committee on private equity strategy and portfolio performance oversight.
Summary
The California State Teachers' Retirement System (CalSTRS) is proceeding with a formal request for proposals to identify a new private equity consultant, driven by the anticipated expiration of its current advisory relationship with Meketa Investment Group in September 2026. The RFP launch represents a routine but strategically significant refresh of CalSTRS's private equity advisory infrastructure, one of the largest public pension systems in the United States.
The new consulting engagement will commence on July 1, 2025, with contract terms to be finalized by the Investment Committee. The system has structured the opportunity to allow for either a three-year or five-year contract duration, providing flexibility in the renewal timeline. According to CalSTRS spokesman Ricardo Duran, the $154.2 billion pension system expects to issue the RFP later in the fiscal year as part of its standard procurement process.
The private equity consultant will support CalSTRS staff and the Investment Committee across multiple dimensions, including semi-annual reviews of private equity portfolio performance, strategic guidance on allocation decisions, and general investment advisory services. The role is integral to CalSTRS's oversight of its private equity holdings, which represent a material component of the fund's diversified investment portfolio. This RFP signals CalSTRS's intent to evaluate the competitive landscape for advisory talent before finalizing its next-generation relationship with a consulting partner.
The new consulting engagement will commence on July 1, 2025, with contract terms to be finalized by the Investment Committee. The system has structured the opportunity to allow for either a three-year or five-year contract duration, providing flexibility in the renewal timeline. According to CalSTRS spokesman Ricardo Duran, the $154.2 billion pension system expects to issue the RFP later in the fiscal year as part of its standard procurement process.
The private equity consultant will support CalSTRS staff and the Investment Committee across multiple dimensions, including semi-annual reviews of private equity portfolio performance, strategic guidance on allocation decisions, and general investment advisory services. The role is integral to CalSTRS's oversight of its private equity holdings, which represent a material component of the fund's diversified investment portfolio. This RFP signals CalSTRS's intent to evaluate the competitive landscape for advisory talent before finalizing its next-generation relationship with a consulting partner.
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